Before graduation, i had chosen one repayment plan. After the bills started coming in, I had to apply for a change to my repayment plan—which I was alowed to do according to Direct Loans. My new repayment plan was to base the amount of my payments on my income—it is called a "Income Continguent Repayment Plan."
I sent in the required forms to Direct Loans in June. They sent me the amounts of what my payments for June and July would be—and that is what I paid.
In September Direct Loans sent me the same paperwork back to me (that I had filled out in June!) saying I needed to fill these forms out to be considered for a change to my repayment plan. So, I sent these forms in and received a bill for $470.00—which included my lower amount for the new repayment plan, and also past due amounts from June and July. I had to pay it! —Direct Loans involved my school into the mess, and threatened to involve the Federal Government into the situation.
With my low income, this has caused me financial difficuties in paying my other bills (like rent).
I think financial aid is good from the U.S. Dept. Of education. It helped me to go back to college to get an education to advance me in my career. But, I did not realize that a Federal Government Agency would cause me so much trouble, and cause me further financia problems. I hope they rectify their mistakes and don't force me to pay this large amount every month because I can't afford it.
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